China plans to fine Didi more than $1 billion over data breaches and ease restrictions banning the ride-hailing giant from adding users, people familiar say
SINGAPORE—Chinese authorities are preparing to impose a fine of more than $1 billion on ride-hailing giant Didi Global , bringing an end to a yearlong investigation into the company’s cybersecurity practices, according to people familiar with the issue.
Once the penalty is announced, the government plans to ease an earlier restriction banning Didi from adding new users to its platform, and allow the Beijing-based technology company’s mobile apps to be restored to domestic app stores, some of the people said. The fine will also pave the way for Didi, whose app is used by tens of millions of users in China each month, to kick-start a new share listing in Hong Kong, these people said.
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